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SHAREHOLDER ALERT: Rigrodsky Law, P A Announces Investigation of Weingarten Realty Investors Buyout
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ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of Weingarten Realty Investors
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Weingarten Realty Investors (NYSE: WRI) in a deal valued at roughly $3.87 billion.
What Happened: Kimco Realty Corp. is a Jericho, New York-based real estate investment trust focused on open-air, grocery-anchored shopping centers and mixed-use assets.
Weingarten had 159 properties that will be absorbed by the 400-property Kimco, which will continue as the public company. The Kimco management team will lead the combined company with CEO Conor Flynn, Executive Chairman Milton Cooper and President/Chief Investment Officer Ross Cooper at the helm.
Weingarten shareholders will receive roughly $30.32 per share in cash and stock. Kimco shareholders are expected to own approximately 71% of the combined company’s equity while Weingarten shareholders are expected to own about 29%.
Kimco Realty, Weingarten Realty Investors To Merge
WASHINGTON (dpa-AFX) - Kimco Realty Corp. (KIM) and Weingarten Realty Investors (WRI) have reached a merger deal under which Weingarten will merge with and into Kimco, with Kimco continuing as the surviving public company. Each Weingarten common share will be converted into 1.408 newly issued shares of Kimco common stock plus $2.89 in cash. This represents a total consideration of approximately $30.32 per Weingarten share.
On a pro forma basis, following the closing of the transaction, Kimco shareholders are expected to own approximately 71% of the combined company s equity, and Weingarten shareholders are expected to own approximately 29%. The Kimco management team will lead the combined company. The combined company is projected to have a pro forma equity market capitalization of approximately $12.0 billion and a pro forma total enterprise value of approximately $20.5 billion. Upon closing, the deal is expected to be immediately
Kimco Realty Corp. (NYSE: KIM) is acquiring Houston-headquartered rival Weingarten Realty Investors (NYSE: WRI) in a deal valued at roughly $3.87 billion.
What Happened: Kimco Realty Corp. is a Jericho, New York-based real estate investment trust focused on open-air, grocery-anchored. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
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